Europe’s Economy is Almost Out of the Woods

1/27/2014 3:37AM

Jeroen Dijsselbloem Dutch finance minister and Eurogroup president tells WSJ’s Matina Stevis at The World Economic Forum that the worst of the euro crisis is behind us, but the bloc’s banks are gearing up for a tough review and governments mustn’t relent on budget reforms.

This transcript has been automatically generated and may not be 100% accurate.

... I ... there has been somewhat extraordinary world economic Forum this year for the euro zone ... and the reason is that for the first year and for ... that housing being the center of attention ... I'm joined by Dutch finance minister and head of the group of euro zone finance ministers ... during the saloon ... and the big question is ... is Europe out of the woods as the euro zone economy recovering and as the price is really over well the economy steadily recovering in almost all the country's ... economy become a growth is picking up ... even in the week of countries issue you will see economic growth ... but there's still lots to ... the debt issue is still ... out there in a number of countries to further economic reforms are necessary to become more competitive ... so a lot of work still to do but then the atmosphere steadily more optimistic ... and what you think are risks may be a rise in two thousand fourteen for the euro zone ... well there's a obviously dead ... that's a show of point is political stability ... in order to push for some tough legislation on re form sweets that stable political situations ... and a second one is of course the banking union is very important elements we put all the legislation in place and it was a short period of time ... that the implementation stars as of now ... ECB will go through the bank's ... at dealing with any capital shortfalls at the end of this year beginning of two thousand fifteen ... will be crucial for other economic pickup ... thank you very much thank you